Foster’s announcement came today after beverages group Coca-Cola Amatil (CCA) amended the terms of a brewing joint-venture with SABMiller, which enabled SABMiller to bid for Foster’s.

SABMiller, the world’s second-biggest brewer by volume, made an unsolicited, non-binding and conditional proposal of AU 4.90 dollars a share in cash for Foster’s – an 8% premium on Foster’s last trading price of AU 4.53 dollars.